SoFi Technologies (NASDAQ:SOFI) Shares Down 3.8% on Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 3.8% during mid-day trading on Friday following insider selling activity. The stock traded as low as $14.09 and last traded at $14.33. Approximately 22,355,840 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 49,571,358 shares. The stock had previously closed at $14.90.

Specifically, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director now directly owns 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $13.95, for a total transaction of $1,215,603.00. Following the completion of the transaction, the director now owns 376,398 shares of the company's stock, valued at approximately $5,250,752.10. This trade represents a 18.80% decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent research reports. JMP Securities initiated coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Barclays lifted their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group increased their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday. They set an "overweight" rating and a $20.00 price objective for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $14.73.

SoFi Technologies Price Performance

The business has a 50-day moving average of $12.79 and a 200 day moving average of $13.96. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $16.49 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company's quarterly revenue was up 32.7% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOFI. Strs Ohio acquired a new stake in shares of SoFi Technologies in the 1st quarter worth about $984,000. Intech Investment Management LLC lifted its holdings in shares of SoFi Technologies by 12.5% in the first quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock valued at $2,103,000 after purchasing an additional 20,056 shares in the last quarter. Focus Partners Wealth grew its holdings in SoFi Technologies by 4.3% during the first quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock worth $3,656,000 after buying an additional 12,831 shares in the last quarter. Integrity Alliance LLC. bought a new stake in SoFi Technologies during the first quarter worth $187,000. Finally, Bayforest Capital Ltd purchased a new stake in SoFi Technologies in the 1st quarter valued at $490,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.